The dynamics of insurance make it hard for some people to get coverage. By automating a policy using an oracle to track weather and smart contracts for payments, Lemonade provides crop insurance to small farmers in Kenya with an Avalanche app. Farmers sign up using a smartphone, launching a policy for a few dollars or less. Once damaging weather conditions occur, thousands of small Kenyan farmers can receive automatic payouts, giving them an important financial backstop. This expanded coverage comes at a pivotal moment when some insurance companies are reducing coverage due to effects of climate change, such as State Farm no longer offering home insurance in California because of more frequent wildfires.
Deloitte manages FEMA Public Assistance payments to state, local, and nonprofit actors providing relief following natural disasters, a complex and difficult process. It’s easier with Avalanche. Avalanche helps to make the process more automated, more secure, and provides transparency on the status of any given application. Avalanche has proven a vital disaster relief tool at an important time when natural disasters are becoming more frequent due to climate change.
Dreamus, the entertainment arm of the Korean entertainment giant SK Planet, uses Avalanche to power its ticketing app. The app, OK Cashbag, provides benefits to its 21M users and South Korea’s $230M ticketing industry. Bringing ticketing onto Avalanche makes digital transactions easier. It also creates an immutable trail allowing anyone to know which tickets are genuine, mitigating scalping, secondary market abuse, and counterfeiting.
A year ago, the digital asset securities firm Securitize launched part of a KKR private fund on Avalanche. What does this mean? Traditionally, private market funds have been available to few people. Launching on Avalanche expands the pool of investors who can access this fund. Since its early days, blockchain has been seen as a tool to foster financial inclusion. That’s exactly what tokenization on Avalanche can bring – greater accessibility, more chances for more people to broaden their investing strategies.
One of the most promising AAA games coming out soon is built with Avalanche. Off the Grid aims to raise the bar for storytelling and digital ownership in the Battle Royale genre. The game has been previewed by leading streamers and looks like a blast. Where does Avalanche come in? Play-to-own Web3 mechanics, which players have the option to engage with. Adding digital ownership rewards players for achievements and raises the stakes, adding a new dimension of gameplay. Many innovative studios are now changing the gaming game by incorporating the speed, power, and possibilities of Avalanche.
Tyb/Shopify (E-commerce and Loyalty)
The community-powered loyalty solution TYB uses an Avalanche-powered platform to reach millions of merchants through Shopify. Armed with Web3 capabilities, the TYB app lets Shopify merchants reward their fans in new ways for posting to social media, writing reviews, making referrals, etc. Incorporating Avalanche is what allows these brands to strategically utilize digital collectibles. Brands can seamlessly create these collectibles, assign them holder perks, and distribute them to fans – ultimately allowing brands and fans to connect in new ways.
Each year, some $4.5 trillion in goods with fraudulent paperwork move through the supply chain. In an effort to combat this, Blockticity is minting certifications on Avalanche, attaching a record of certification that cannot be fudged. How does it work? After product testing, Blockticity prints a QR code on products. This QR code links to an Avalanche NFT. When vendors and consumers scan this QR code and see the Avalanche NFT, they can know the certification is authentic. Blockticity has already minted certifications for its first $275 million in hemp, cannabis, and related products on Avalanche. Next up on the roadmap: sneakers, fruit, and much more.